Washington CNN — Mortgage rates have taken would-be buyers on a ride this year — and it’s only March. Generally, home buyers can anticipate mortgage rates to move down through the rest of this year as the banking crisis drags on, which could cool down inflation. But there are bound to be some bumps along […]
A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber? You can sign up right here. You can listen to an audio version of the newsletter by clicking the same link. New York CNN — The Federal Reserve raised interest rates by a quarter percentage point on Wednesday as […]
London CNN — Switzerland’s banking crisis has been halted, the country’s central bank said Thursday as it hiked interest rates for the fourth time in a bid to contain inflation. Together with the Swiss government and financial market regulator FINMA, the Swiss National Bank (SNB) helped orchestrate the emergency takeover of Credit Suisse (CS) by […]
New York CNN — Right now, $250,000 seems to be the number on everyone’s minds. That’s the Federal Deposit Insurance Corporation’s standard limit, meaning any bank deposits up to that amount are protected by the independent government agency. Before the recent collapse of Silicon Valley Bank and Signature Bank, most Americans were not worried about […]
London CNN — On March 10, the biggest failure of a US bank since the global financial crisis was playing out in real time as a major lender to the tech industry succumbed to a classic bank run. Silicon Valley Bank’s customers were frantically pulling their money from the California-based lender before US regulators intervened […]
A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber? You can sign up right here. You can listen to an audio version of the newsletter by clicking the same link. New York CNN — It’s difficult to overstate the influence that Silicon Valley Bank had over the startup […]
New York CNN — Nervous bank customers have rushed to the safety of big banks in the wake of a pair of high-profile bank failures that have shaken confidence in the system. Bank of America (BAC), Wells Fargo (WFC) and Citigroup (C) have all experienced a significant increase in deposits since Silicon Valley Bank ran […]
A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber? You can sign up right here. You can listen to an audio version of the newsletter by clicking the same link. New York CNN — After Silicon Valley Bank and Signature Bank failed, the US government stepped in with […]
New York CNN — Sheila Bair, a top banking regulator during the 2008 financial crisis, says the stunning implosion of Silicon Valley Bank is exactly why the Federal Reserve needs to halt its war on inflation. “The Fed needs to hit pause and assess the full impact of its actions so far before raising short […]
New York CNN — Silicon Valley Bank collapsed Friday morning after a stunning 48 hours in which a bank run and a capital crisis led to the second-largest failure of a financial institution in US history. California regulators closed down the tech lender and put it under the control of the US Federal Deposit Insurance […]
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